Technology

PTCL posts Rs 2.7bn profit in first half of 2020

PTCL profit

PTCL announced a Net Profit After Tax at Rs 2.7 billion and earnings per share (EPS) at Rs 0.53 for the six months ended June 30. The Operating Profit of Rs 1.4 billion has, however, declined as compared to last year due to coronavirus impact.

Pakistan Telecommunication Company Limited (PTCL), the largest telecom and integrated ICT Company of Pakistan, in its Board of Directors meeting earlier this week held in Islamabad, revealed its first six months of financial results of 2020.

PTC Group collected Rs 62.9 billion for the first half of the year however, it is 5% less than the collection of the year 2019 but on excluding the COVID-19 impact on the company’s day to day operation it is seen as a rise of 2.5% than the previous year.

After a major setback caused by the coronavirus, the country is coming back to normalization gradually. The economic activities are expanded by following the standard operating procedure in order to avoid the pandemic. Despite all the challenges of the COVID-19, PTCL workers are continuously working on and off the field as PTCL provided quick solutions to its customers.

U Bank, a microfinance banking subsidiary of PTCL also shown a profit and reached a 45% increase as compared to last year’s growth.

PTCL revenue for the first half of the year is only 1% lower than the previous year. PTCL grabbed Rs 35.3 billion in the first six months of the year 2020.

PTCL wireline and wireless products provide an extra boost in order to gain more revenue specifically from improved Charji (4G) service. Due to lockdown, PTCL observed mega traffic flow along with expansion which provides a much better user experience.

PTCL adopts a customer-centric approach and able to convert the majority of its customers to digital payments, resolve 50% of its complaints on spot, and balances the rate. A few months back PTCL integrated NOKIA’s Service Management Program for effective service and develop line constancy via dynamic line management. In the next stage, the company is focusing on resolving above 90% of the complaints within 24 hours.

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